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Construction output in Latvia up 16.9% in Q2 2017

Compared to the corresponding period of 2016, construction output had increased by 15.9 % in Q2 2017.  Construction production output at current prices amounted to 384.4 million euros.

Construction output growth was influenced by the rise in construction of non-residential buildings (17 %) and construction of civil engineering works (28.1 %), whereas construction of residential buildings fell by 14.6 %, according to data from the Central Statistical Bureau of Latvia.
 

Compared to the corresponding quarter of the previous year, significant construction output increase within the group of construction of non-residential buildings was recorded in construction of industrial production buildings and warehouses, the construction output whereof doubled, as well as construction of school, university and research buildings(rise at 65.7 %). Decline, in its turn, was observed in construction of hotels and similar buildings (55.1 %) and construction of hospital or institutional care buildings (24.5 %).
 

Drop in construction of residential buildings was influenced by the reduction in construction of three- and more dwelling buildings of 19.7 %, however construction of single dwelling buildings and construction of two- or more dwelling buildings went up by 6.4 % and 7 %, respectively.
 

The rise in construction of civil engineering works was affected by the increase in construction of harbours, waterways, dams and other waterworks (68.6 %), construction of highways, streets, roads, airfield runways, railways (28 %), and construction of long-distance pipelines, communication and electricity lines (17.9 %).
 

In Q2 2017, 597 building permits2 were granted for the construction, capital repairs, reconstruction and restoration of single dwelling buildings with the total floor space 119.3 thousand m2, of which 454 permits were issued for construction of new buildings with the intended floor space of 89.3 thousand m2 (91 permits more than in Q2 2016).
 

In its turn, 28 building permits (23 permits less than in the corresponding quarter of the previous year) were granted for construction of industrial buildings and warehouses with total intended floor space of 39.5 thousand m2, of which 22 building permits with 5.2 thousand m2 of intended floor space were issued for new construction.

BNN

13-08-2017
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